Current Funds

Dongbuka

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Dongbuka No.8 Ship Investment Company

Name
Dongbuka No.8 Ship Investment Company
Classification
Paper company in possession of one vessel
Establishment
19th November, 2004
Promoter
Korea Marine Finance Corporation
Public Offering
20th and 21st January, 2005
Underwriter
Daewoo Securities(Approx. \9.12 billion), Hantutams (Approx. \3.09 billion)
Duration
Approx. 10 years

* Early settlement occurs when ship is disposed by sale

* Dongbuka No.8 Ship Investment Company asset subrogation guaranteed by Korea Line Corporation during investment period (10 years)

Target Asset
One 176,800 DWT Bulk vessel (Newly built at Japan’s Namura Shipyard)
Acquisition Price
￥5.52 billion (Approx. \56.3 billion , ￥1= \10.1247)
Structure
  • 1. Debt: Approx. \39.2 billion (70% of acquisition price) from Korea Development Bank, DVB, SG, and Commerz as a consortium
  • 2. Equity: Approx. \12.2 billion (20% of acquisition price)
  • 3. Guarantee Deposit: Approx. \5.6 billion (10% of acquisition price) from Korea Line Corporation
Earning Rate
Annual 6.15% fixed dividends (Interest type, Dividends paid off every quarter)
Realization
Korea Exchange listed
Ship management
Korea Line Corporation
Consignment Agreement
  • 1. Ship Investment Management Company: KOMARF
  • 2. Custody Company : Kookmin Bank